I Monday, November 15, 2021

Aster DM Healthcare Q2 net profit jumps to Rs 128 crore for quarter ended September

Aster’s diagnostics vertical, Aster Labs has established its footprint in the states of Karnataka and Kerala by setting up 1 reference lab, 6 satellite labs, and 31 patient experience centers as on September 30, 2021.

Aster DM Healthcare has achieved an over three-fold jump in consolidated net profit to Rs 128 crore for the quarter ended September. The company posted a net profit of Rs 42.25 crore for the corresponding period of the previous fiscal, Aster DM Healthcare said in a regulatory filing.

Aster DM Healthcare, one of the largest private healthcare service providers in GCC and in India, announced its financial results for the quarter ended September 30, 2021.

The focus going forward as a strategy is to expand capacity in India. The company has reported that they have launched a dedicated ‘Women and Children” wing at their Aster MIMS hospital in Kottakkal, Kerala which adds 77 beds that consists of 28 Neonatal Intensive Care Unit (NICU) beds and 6 Pediatric Intensive Care Unit (PICU) beds, to the existing 244 bed capacity at Kottakkal.

The launch is a part of the strategy to provide specialized care for women and children in boutique facilities attached to the company’s main hospitals.

As part of Aster Aadhar Hospital’s expansion at Kolhapur, there are 24 additional beds installed during October 2021 and the remaining 36 beds will be operationalized in the next few months. There are plans also to expand capacity at the company’s other hospitals – Aster Medcity, Aster MIMS Kozhikode and Aster MIMS Kannur.

Aster’s diagnostics vertical, Aster Labs has established its footprint in the states of Karnataka and Kerala by setting up 1 reference lab, 6 satellite labs, and 31 patient experience centers as on September 30, 2021. The plan is to establish 21 satellite labs and 200 patient experience centers by the end of the current financial year in 5 states.

Along with that Aster is in the process of establishing a central lab for GCC in Dubai. Aster has entered into an agreement with Alfaone Retail Pharmacies Private Limited (ARPPL) to license the ‘Aster Pharmacy’ brand to run the retail stores and online pharmacy operations. ARPPL has launched 55 Aster pharmacies in Karnataka & Kerala and are expected to reach around 130 pharmacies by the end of the financial year.

Commenting on the performance for Q2 FY22, Dr. Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, said, “The last quarter has been one of the better quarters for Aster as the COVID cases were on the lower side in geographies we operate. The recovery rates improved significantly while the death rates have declined. As vaccination rollout picked up pace across our main markets which are UAE and India, we have seen economies on a recovery path with life slowly returning to normal. This is reflected in Aster’s better performance through significant improvement in both out-patient and in-patient numbers at our hospitals and higher footfalls across our pharmacies and clinics.”

Commenting on Aster Digital Health vertical, Alisha Moopen, Deputy Managing Director, Aster DM Healthcare said, “Moving ahead on our Digital Journey, we have launched the first version of 1 Aster, our patient assistance App in UAE. This shall allow patients to book appointments, seek Virtual consults, access medical records etc. and help us to provide a more wholesome experience to our patients. We launched this on both Android and iOS formats and have been seeing good acceptance from both our patient base and doctors. We are actively working towards a larger patient engagement framework through a digital customer relationship management (DCRM) module launched across our clinics, hospitals and pharmacies which shall allow a seamless experience for the patients across all modes of engagement, i.e., in person or through our app/portal. We are also actively working towards launching our e-pharmacy by Quarter 4 that will further bolster our offerings in patient care. Soon after UAE, we expect these offerings to be mirrored in India in early part of next year. Supported by our Consultants Bain, and with significant financial and Human Resources being deployed, we will soon be one among the most digitally transformed healthcare providers in GCC and India.”

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